Hello Group Inc. (NASDAQ:MOMO) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its position in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 813.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 101,277 shares of the information services provider's stock after acquiring an additional 90,186 shares during the quarter. LPL Financial LLC owned about 0.07% of Hello Group worth $781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock valued at $169,000 after buying an additional 1,690 shares in the last quarter. Blue Trust Inc. increased its holdings in Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock valued at $48,000 after buying an additional 2,414 shares during the period. Kathmere Capital Management LLC raised its position in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider's stock worth $113,000 after acquiring an additional 3,407 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Hello Group during the fourth quarter valued at about $35,000. Finally, Caprock Group LLC lifted its position in Hello Group by 47.3% during the fourth quarter. Caprock Group LLC now owns 35,763 shares of the information services provider's stock valued at $276,000 after acquiring an additional 11,484 shares during the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOMO has been the topic of several recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $13.00 target price on shares of Hello Group in a research report on Thursday, March 13th. StockNews.com raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.25.

Hello Group Stock Down 0.7 %

Shares of NASDAQ:MOMO traded down $0.04 during trading on Friday, hitting $5.68. The stock had a trading volume of 772,399 shares, compared to its average volume of 1,334,318. The stock has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $6.92. The stock has a market capitalization of $823.03 million, a price-to-earnings ratio of 5.86, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $8.38.

Hello Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be given a dividend of $0.30 per share. This represents a yield of 4.18%. The ex-dividend date of this dividend is Friday, April 11th.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.